10-31-2007, 02:09 PM
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#1 |
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Greenhorn
Join Date: Jan 2007
Posts: 13
Rep Power: 0  |
interest rate question.....can someone please help?
Shawn bought a home with an adjustable rate mortgage.the margin on the loan is 2.7%, and the rate cap is 7.2% over the life of the loan. If the current index rate is 4.3% what is the initial interest rate of the arm?<br />
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10-31-2007, 02:09 PM
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#2 |
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Greenhorn
Join Date: Jul 2006
Posts: 8
Rep Power: 0 |
interest rate question.....can someone please help?
add the current index rate of 4.3% to 2.7% which is the margin.
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10-31-2007, 02:09 PM
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#3 |
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Greenhorn
Join Date: Jul 2006
Posts: 11
Rep Power: 0 |
interest rate question.....can someone please help?
Shawn should read his book because FL Guy doesn't want his banker being unable to perform a basic accounting problem.
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